Precinmac is a manufacturer of precision machined components and complex subassemblies, offering a single-source solution to machining, kitting, prototyping, supply chain integration, project management, and clean-room capabilities.
Case Study
Precinmac
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How GenNx360 partnered with the Company
Executed on the buy and build strategy
Acquired and integrated Trimaster - HPG, Maine Machining and Hoppe
Focused on service delivery
Drove on-time delivery improvement from less than 50% to +96%
Focused on market penetration
Transformed business by securing higher margin and higher growth commercial aerospace opportunities
Revamped the sales organization
Revamped sales organization through headcount additions, sales councils, implementing CRM and driving cross sell opportunities
Transaction Sourcing
- Executed buy and build strategy, by acquiring and integrating three entities Trimaster - HPG, Maine Machining and Hoppe.
- Trimaster – HPG and Maine Machine acquired in limited auction processes
- Hoppe was source through proprietary channel
Investment Highlights
- Utilize GenNx360 experience in directly managing similar businesses and interacting with similar customers
- Build scale and diversity by acquiring companies that broaden industry and customer exposure
- Apply commercial expertise to build out commercial functions to increase revenue
- Apply operating expertise to drive improvements in service, implementation of productivity and reduction of cycle time to expand margins and create "stickier" customer base
Key Initiatives Completed
- Appointed Group CEO and upgraded the management team
- Drove significant on-time delivery improvement to +96%
- Reduced cycle times by 50%, providing significant flexibility and capacity
- Revamped sales organization through headcount additions and structured sales councils
- Implemented CRM tools to improve data tracking, drive cross-sell initiatives and improve win rates
- Transforming business by securing higher margin and higher growth commercial aerospace opportunity
- Implemented productivity program to drive year-over-year 5% savings